NEWS

watch hands moving quickly

TIME RUNNING OUT FOR CBILS

Aug 11, 2020

Time is beginning to run out for CBILS Applications. Remember it can be used to provide growth monies and not just emergency monies, provided you have been impacted by COVID (and who hasn’t!) Contact us at Snowball Group if you if you require help and advice for CBILS or CLBILS. We have…

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News Update

CHANGES TO CBILS SCHEME

Jul 30, 2020

From today there has been a change by the British Business Bank to the CBILS Scheme on ‘businesses in difficulty’ For businesses with fewer than 50 employees and less than £9m in turnover, the ‘business in difficulty’ test will no longer be applied or taken into account (unless the business…

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After Quarantine Life

AFTER QUARANTINE LIFE

Jul 16, 2020

For months now there has been a sense of gloom sat above us all and impacting everyone’s day to day lives not only here in the UK but across the world. The media is awash with everything negative associated with COVID-19 and I certainly do not want to add to…

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Coins depicting Funding Market

STATE OF THE FUNDING MARKET

Jul 16, 2020

The funding market has seen some considerable changes during this period and here we set out what we have seen in terms of the government support for business and then how the ‘normal’ funding market has adapted: CBILS Firstly, we had the launch of the government backed CBILS facilities through…

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New CBILS specialist product

NEW CBILS SPECIALIST PRODUCT

Jun 2, 2020

We are one of a select number of intermediaries chosen to have access to this NEW SPECIALIST CBILS PRODUCT which utilises the commercial property trading asset as security for a trading business and thus enables the cost of borrowing to be spread over 25 years. Key terms are: – Loans…

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News Update

NEW LENDERS ADDED TO CBILS

Apr 12, 2020

The British Business Bank have just announced 4 new lenders have been signed off for the Coronavirus Business Interruption Loan Scheme (CBILS): Co-op Bank Cynergy Bank Oaknorth Bank Starling Bank

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Breaking News Sign

POSITIVE CHANGES TO THE CBILS SCHEME

Apr 3, 2020

The Chancellor clearly must have read my LinkedIn post yesterday as the scheme will now be OPEN TO ALL VIABLE BUSINESSES AFFECTED BY COVID19 – a key and necessary improvement. Other changes include: – No lender on the scheme can take a personal guarantee for loans up to £250k –…

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Watch this Space

WATCH THIS SPACE!

Apr 2, 2020

The Chancellor is expected to announce changes (improvements!) to the Coronavirus Business Interruption Loan Scheme (CBILS) either today or tomorrow as the scheme is clearly failing to achieve its objectives. Many businesses don’t want to take out loans and may not have borrowed before. The requirement for banks to offer…

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help to support impact of coronavirus

HELP TO SUPPORT IMPACT OF CORONAVIRUS

Mar 26, 2020

No one can underestimate the impact of Coronavirus and how it has impacted every business and every individual. One thing is for sure and that is it will get much worse before it gets better, and there will be the need for a huge unprecedented package to protect businesses and…

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